SEIKITOKYU KOGYO CO.,LTD. [1898.T]
TOKYO, Jun 23 (Pulse News Wire) – Seikitokyu Kogyo CO.,LTD. (1898.T) resolved to distribute restricted shares to executives on July 17, 2026.
The distribution involves ordinary shares worth up to ¥1,444 per share, totaling ¥51.6 million. The shares will be distributed to four non-outsider directors and thirteen executive officers without director roles who collectively hold principal monetary claims amounting to ¥51.6 million. This move follows a resolution made during the board meeting held on May 24, 2018, aimed at providing long-term incentives to insiders and promoting shared value among shareholders. Additionally, the company's 69th regular general meeting on June 22, 2018, approved the issuance of restricted shares based on monetary compensation within an annual limit of ¥60 million for eligible directors. Under the new incentive program, directors and executive officers will contribute their monetary claims as capital contributions to acquire ordinary shares from the company.
Each share’s subscription price will be determined based on the closing price of the company's stock on the Tokyo Stock Exchange Prime Market prior to the board decision day, ensuring fairness. The restricted period for these shares extends until July 16, 2056, fostering sustained commitment and alignment with shareholder interests. The agreement stipulates that the shares cannot be transferred, pledged, or otherwise disposed of during the restriction period. Upon completion of the restriction period or upon resignation due to retirement or other legitimate reasons, the restrictions will be lifted proportionally based on tenure. In case of death, the restrictions will be lifted posthumously according to the board's discretion.
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